90-2016 O � � G1�i�AL ` �'
�v '- jCouncil File # 0 - 0/�O
Green Sheet # a
RESOLUTION
C TY OF SAINT PAUL, INNESOTA
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Presented By
Referred To Committee: Date
WHERAS, the City of Saint Paul has used its tax increment
financing authority conservatively and effectively to build the
City's tax base with a minimum of financial risk and to promote
the City's goals; and
WHEREAS, the City of Saint Paul 's investment of $100 million in
its tax increment districts has leveraged over $800 million in
non-City inve�tment; and
WHEREAS, tax increment financing has enabled the City to create
or retain over 8,000 jobs; and
WHEREAS, over 1 ,000 housing units have been created for low and
moderate income families and senior citizens through tax
increment financing; and
WHEREAS, more than 1 , 100 other housing units have also been added
to the city's housing stock through the use of tax increment
financing; and
WHEREAS, actions taken by the 1990 Minnesota Legislature make
future use of tax increment financing by the City of Saint Paul
extremely problematic by imposing financial penalties on cities
which create new increment financing districts; and
WHEREAS, the City of Saint Paul has experienced a decline in
other resources available for redevelopment such as Community
Development Block Grant funds and Urban Development Action
Grants; now, therefore, be it
� : ' : �-yo -aai�
RESOLVED, that the City of Saint Paul supports the basic concept
of tax increment financing and the following changes to tax
increment financing legislation:
1 . Minn�sot� Statute Section 273. 1399 should be amended so that
the financial penalties it imposes on cities which create
new tax increment financing districts do not apply to the
creation of redevelopment and housing districts.
2 . Minnesot� Statute Section 273. 1399 should be further amended
so that it is clear that the financial penalties it imposes
on citie� which create new tax increment financing districts
do not a{pply to the creation of hazardous substance
subdistr�cts ( in either new or existing tax increment
district�) .
3. Minnesot� Statute Section 469 . 1763 should be amended to
clarify that credit enhanced bonds are an eligible district
expenditure/commitment and fall within the 75 percent
limitation, not only in a district's first five years, but
also for its entire life.
4. Credit enhancem�n� authority should be extended to existing
redevelapment districts.
ea Navs Absent Requested by Department of:
inron
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Adopted by Council: Date DEC 1 � ���� F�� Approved by City Attorney
Adoptio Certified by Council Secretary BY;
By' Approved by Mayor for Submission to
Approved by ayor: Date �E� `• `� ;��� Council
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By� �c�d��s/i�4i'/ By:
PU�i.t���l ��.� 2 �� 199Q
DEPAR [NT/OFFICE/OpUNqI DATE INITIATED ��D�DI�
IGR Office 11/1/90 GREEN SHEET No. 9299
OONTACT PERSON R PHONE INITIAU DATE WITIAL/DATE
C nthi a See lha e r 9 8-4 7 3 6 � m DEPARTMENT DIRECTOR �c�TV couNC��
Y �� �GTY ATTORNEY �CITV CLERK
MUST BE ON COUNCIL A(iENOA BY( E) p0U71NO �BUDOET DIRECTOR �FIN.8 MOT.SERVICES DIR.
11 15 9 0 ❑�Y�c����n ❑
TOTAL N OF 81GNATURE PA 1 (CLIP ALL LOCATIONS FOR SIGNATURE)
ACTION REOUESTED:
Signature of at ach d Council Resolution.
RECOMMENDATIONB:MP►�W o► (� COUNC�COMMITTEEIRESEARCH l�PORT OPTIONAL
_PLANNIN(�COMM18810N pVIL �COMMISSION �Y� PHONE NO.
_CIB COI�AMITTEE
_STAFF COMM�NTB:
_u�srR�cr oouRr X om.
SUPPORTS WMICN COUNdL OBJE 7
fNITIATIPK�PR�LEM.ISSUE. Whet,Whsn,WMn,Why):
The City of St. Pau has experienced a decline in other resources
available for r dev lopment such as CDBG funds and Urban Development
Action Grants.
ADVANTAOEB IF APPF�VED:
Tax Increment F nan ing can be used far the majority of development
projects, where app icable.
DISADVANTAOE8 IF APPROVEO:
none
DISADVANTAOES IF NOT APPROVED:
Redevelopment w' ll b severely hampered and even curtailed throughout
the City of St. Paul.
TOTAL AMOUNT OF TRANSA = COST/REVENUE BUDOETED(q1�LE ONE) YES NO
FUNDINO SOURCE ACTIVITY NUMCER
FlNANp11L INFORAAATION:(EXPLAII�
� ��z�/�o
11. Licensing for airpprt limousines. �y0,-�¢,/l/
SENT TO COUNCIL AS, AMENDED WITHOUT RECOMMENDATION.
12. Port Authority property tax levy ability.
SENT TO COUNCIL AS' AMENDED WITHOUT RECOMMENDATION.
13. Traffic speed limits.
RESOLUTION SHALL B� AMENDED AND RETURNED TO COMMITTEE.
14. SCORE funding.
RESOLUTION SH�1LL BE AMENOED AND RETURNED TO COMMITTEE.
15. Local government a�d.
RESOLUTION SHALL BE DRAFTED AND RETURNED TO C4MMITTEE.
16. Dedicated revenue source. .
RESOLUTION SHALL BE DRAFTED AND RETURNED TO COMMITTEE.
17. Tax increment financing.
SENT TO COUNC�L AS AMENDED WITHOUT RECOMMENDATION. ,.
18. Fiscal Dispar�ties.
RESOLUTION SHIALL B� AMENDED AND RETURNED TO COMMITTEE.
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